Parametric Online Platform for Windstorm Insurance
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What is POP STORM?
POP STORM is a digital risk transfer platform that provides small and medium-sized companies (SMEs) with access to our proprietary index-based STORM product.
Smaller premiums, full automation and a user-friendly interface can take you from an indication to a bound policy in seconds.
How does it work?
Developed with brokers and customers in mind, POP STORM is user-intuitive, efficient and requires very little information to get started.
With just a few clicks, the platform delivers a quote to the broker who can then share it with the customer and bind the policy directly, within seconds.
- Parametric trigger is based on the independently reported wind speed at a point within less than half a mile of the insured's location
- When the wind speed exceeds a set parameter, the customer gets a payout within 30 days
- Funds can be used flexibly (i.e. property replacement, repair costs, business expenses, lost revenue, and other immediate economic needs)
- Proof of loss is required
Where is it available?
POP STORM is currently available to businesses with locations in Alabama, the Carolinas, Florida, Georgia, Mississippi, Louisiana, and Texas.